China will expand CBDC trials to most populous province: Report

The People’s Bank of China, or PBoC, will reportedly expand deployment of its central bank digital currency, the e-CNY, to four of the country’s provinces, including Guangdong.

According to a Tuesday report from the South China Morning Post, PBoC deputy governor Fan Yifei said at an event in Suzhou that the bank would be rolling out e-CNY trials in the provinces of Guangdong, Jiangsu, Hebei and Sichuan. With a combined population of more than 360 million people, the reported move would be a marked expansion of the central bank’s CBDC plans, which have been largely limited to individual cities, merchants and select regions.

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